ByteDance unit sets up Nuverse Inspiration Fund to back emerging gaming startups

Nuverse, a game development and publishing unit of TikTok-owner ByteDance, has launched an investment vehicle Nuverse Inspiration Fund (NIF) to back emerging startups as the parent looks to step up its gaming business to challenge domestic incumbents including Tencent.

Led by former Tencent executive Yan Shou, Nuverse seeks to “become long-term strategic partners of gaming startups with grand visions and creativity to pursue success with joint efforts,” said the firm in a statement.

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